The ecologically-minded online newspaper Grist says we can solve all our economic woes by building bike lanes (Hat tip: Planet Gore and links original):
Looking at 58 projects in 11 states, the researchers found that cycle-oriented infrastructure created 11.6 jobs for every $1 million spent, versus 7.8 for road-only projects. Pedestrian projects were in the middle, creating 9.6 jobs per $1 million.
(Look at the picture on the Grist website and you'll see why where four guys are putting down a graphic on the pavement and only two of them seem to be working.)
And, of course, by that logic, we need more bike infrastructure (again, links original):
So basically, we need to get cracking on those bike interstates if we want to save the economy. And after building bike infrastructure solves the job crisis, using bike infrastructure can help you save money on transportation! Bikeonomics at its best.
But here's a question that needs to be asked: where does that $1 million to create 11.6 jobs (a rate of 86,206 per job) come from? Well, it has to come out of the economy as either taxes or debt. And that reduces economic activity by the private sector which creates the wealth need to tax $1 million to build bike lanes.
Now infrastructure is a public good. Streets and roads help trade by allowing goods to be quickly and economically moved around the country. They allow people to travel to their jobs and to their leisure activities. While bike lanes may do the latter (for a very small percentage of people since 0.38% of all commutes happen on bicycles) they are really bad for the former (never seen an 18-wheeler bicycle hauling 40,000 pounds of goods).
This is the same fallacy of the $900 billion stimulus the Democrats and the Obama administration foisted on us. If you really think building bike interstates will save the economy, just ask yourself: what if everyone in the country was building bike interstates? Then where would the money come from to build them?